IPCC Business Slumps on Sluggish Loading-Unloading Activities

By Editorial Team 25/09/2019
Summary

PT Indonesia Kendaraan Terminal Tbk (IPCC) cut revenue growth target this year from 30 percent to 10 percent as the mining and infrastructure industries have been waiting on the sidelines, especially during the 2019 General Election in March-April. As a result, heavy equipment throughput at Tanjung Priok Port dropped 50 percent in that period. However, heavy equipment margins supported the revenue of the PT Pelabuhan Indonesia (Pelindo) II subsidiary with a contribution of up to 40 percent.

The provider of terminal vehicle services at Tanjung Priok Port posted a 36.48 percent lower revenue in the throughput of heavy equipment segment compared to the same period in 2018. As a result, IPCC’s revenue down by 8.62 percent to Rp 250.27 billion from Rp 228.7 billion in the first half last year. Revenue from truck and bus segment declined by 17.02 percent, while revenue from spare parts dropped 27.92 percent. The only growth occurred in the completely built-up (CBU) segment, which reached 7.93 percent.

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